Bank Of England

UK launches multi-billion pound package to coax people back to work

A depleted pool of workers, the result of a combination of factors including a rise in early retirement, long-term illness and migration trends, means Britain's post-COVID labour market recovery is trailing that of international peers.

Why HSBC is paying £1 for the UK arm of failed US bank SVB

The sale, overseen by the Bank of England and the Treasury, comes after SVB collapsed Friday sparking panic in Britain over its key customers in the technology and life science sectors

US, UK governments try to stem fallout from Silicon Valley Bank collapse

The UK Treasury and the Bank of England announced early Monday that they had facilitated the sale of Silicon Valley Bank UK to HSBC, Europe's biggest bank, ensuring the security of 6.7 billion pounds ($8.1 billion) of deposits

UK narrowly avoided recession in 2022, fears loom for economy this year

Economists remain divided on whether the UK will enter or avoid an economic downturn this year, but the Bank of England expects the country to enter recession but much shorter and shallower than previously feared.

Bank of England poised for big interest rate hike to tame inflation

Inflation soared after Russia’s invasion of Ukraine fuelled sharp increases in food and energy prices, leading to the U.K.’s biggest drop in living standards since the 1950s. That has triggered a wave of strikes — including the biggest day of industrial action in more than a decade on Wednesday

UK dismisses economic 'gloom', eyes Brexit boost

The Bank of England and the UK government's own fiscal watchdog, however, believe that the economy has already entered recession on fallout from rampant consumer price inflation

Bank of England makes biggest interest rate hike in 30 years

The central bank boosted its key rate by three-quarters of a percentage point Thursday, to 3%, after consumer price inflation returned to a 40-year high in September. The aggressive move was expected after a more cautious half-point hike six weeks ago

Rishi Sunak waiting in the wings as Liz Truss makes a mess of Brexit-hit British economy

Britain is staring at bankruptcy, teetering between high inflation and default and being compared to vulnerable emerging economies

Rishi remorse as Britain faces economic turmoil?

The UK is facing an economic crisis that will also have serious political consequences, potentially leading to public disorder

UK enters recession, central bank admits

Bank of England’s Monetary Policy Committee released minutes of its meetings, which most recently included a warning about the UK economy entering or possibly even already being in a recession. Read more.